Calculate your WCB estimate expense

Your payroll can be set up to calculate an estimated WCB expense value and report it to your journal entry.

Benefits

Employee level calculations occur by WCB rate.
Employee level calculations automatically stop when the employee reaches the maximum assessable earnings for that province.
An estimated WCB expense is reported on the Journal Entry report for budgeting purposes.
Note:
- Calculations do not automatically occur for reversals, manuals, or second payments. You are required to enter WCB premium override amounts for these payment types. If missed, it's for this reason that the total WCB premium figure should only be used to estimate the expense and not used solely to determine your remittance due.
- For best results, employee level calculations should be implemented effective for the first pay date of the calendar year.

A new contribution code is required to calculate WCB at the employee level. Service fees apply. See Set up deductions and contributions.
Review the Earnings report on the Payroll Setup Reports page. From the Reports menu, select Company Reports > Payroll Setup. Confirm WCB is calculating on all required earnings for your province. If necessary, request a code modification. Service fees apply. See Set up earnings.
Review the Deductions and Benefits report on the Payroll Setup Reports page. From the Reports menu, select Company Reports > Payroll Setup. Confirm WCB is calculating on all required taxable benefits for your province. If necessary, request a code modification. Service fees apply. See Set up deductions and contributions.

Tip!

To review codes subject to WCB calculations at year-end:

Review the Earnings Matrix or the Deduction\Benefit Matrix. This report displays each code and the box values are directed to on the tax form.

If tax forms were requested, open the most recent Tax Forms Package. Go to the Year-End Reports page. From the Reports menu, select Year-End Reports.
If tax forms were not requested, open Additional Reports from the last pay of the year. Go to the Payroll Reports page. From the Reports menu, select Payroll Reports.

When you're advised your new code is created:

Identify employees not subject to WCB calculations. Review the E.I. Category and make any necessary changes on the Employee Profile page. From the Payroll menu, select Hire/Profile > Employee Profile.
Set up the WCB contribution code for all new and existing employees subject to WCB calculations on the Deductions & Contributions page. From the Payroll menu, select Regular Payment > Deductions & Contributions.